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NTPC Limited

Hareon Solar To Co-develop 118 Megawatt Solar Project In India

written by saurabh

Chinese solar modules manufacturer Hareon Solar is looking to expand its footprint in one of the fastest growing solar power markets in the world.

Hareon Solar has entered yet another investment deal with one of the largest independent power producers in the solar power sector in India. The Singapore-based investment unit of Hareon Solar has signed an agreement with Azure Power to develop 118 megawatt solar power project in the state of Telangana.

Hareon Solar will also supply solar panels for the project in another deal worth no more than $40 million. The investment arm of the modules manufacturer will pick up 45% stake in the project at $11.1 million.

The investment by Hareon Solar seems sound as the project was secured by Azure Power through a competitive auction organised by India’s largest power producer NTPC Limited. Power generated from the project will be sold to NTPC through a 25-year power purchase agreement, thus securing long-term revenue stream.

Last year, Hareon Solar and ReNew Power Ventures commissioned a 72 megawatt solar power project in Andhra Pradesh. ReNew Power Ventures had secured the project in auction at a tariff of ₹5.98/kWh (9.0¢/kWh). Hareon Solar had supplied solar panels and also acquired equity stake in the project.

04/30/2017 0 comment

Renewable Energy

Finnish Company Fortum Commissions One Of India’s Cheapest Solar Power Projects

written by saurabh

Finland-based Fortum Corporation recently announced that it commissioned its largest solar power project. The project, located in the Indian state of Rajasthan, is also among the cheapest solar power projects in the country.

In a recently issued press release Fortum declared that it commissioned a 70 megawatt solar PV project under India’s National Solar Mission. The project is located in the western state of Rajasthan – one of the leaders in solar power development in the country. The project is part of the Badhla solar power park owned by NTPC Limited, the largest power generation company in India.

Fortum had secured this project through competitive auction held in January 2016. The tariff of Rs 4.34/kWh (6.7¢/kWh) quoted by the company was the lowest in India at the that time and only 8% higher than the global record low bid at that time.

With the operationalisation of this project, Fortum now owns 85 megawatts of solar power capacity in India. The company is also working on a 100 megawatts project in the southern state of Karnataka which is expected to be commissioned in the first half of this year. Power generated from this project will be sold at Rs 4.79/kWh (7.4¢/kWh) for a period of 25 years.

Last year, the company also announced plans to invest €400 million in India’s solar power market to develop more projects.

04/04/2017 0 comment

Renewable Energy

Fresh 750 Megawatt Solar Power Tender Announced In India

written by saurabh

India’s largest power producer NTPC Limited has launched a fresh tender for the country’s largest solar power park.

NTPC Limited is offering six blocks of 125 megawatt capacity each to project developers at the Pavagada solar power park in the southern Indian state of Karnataka. The solar park is being developed as a joint venture between Karnataka Solar Power Development Corporation Limited and Solar Energy Corporation of India Limited.

The tender terms will allow project developers to procure solar power panels from Indian or foreign manufacturers. With land already acquired and freedom to choose cheaper modules, the tariffs for this auction are expected to be in line with the trends seen in the last few months.

Pavagada solar power park will have an eventual capacity of 2,700 megawatts. First phase of the solar power park, with 500 megawatts capacity, will likely be operational by June this year.

NTPC Limited had auctioned 500 megawatts capacity among six project developers. The highly competitive auction saw allocation of the projects at tariffs Rs 4.78/kWh to Rs 4.80/kWh. The power generated from these projects will be shared by the distribution utilities of Karnataka.

Solar power parks are expected to the backbone of India’s National Solar Mission which targets 100 gigawatts of operational capacity by 2022. The initial target for contribution by solar power parks was 20 gigawatts which was recently increased to 40 gigawatts by the government.

03/22/2017 0 comment

Renewable Energy

Phase I Of 2,700 Megawatts Solar Power Park In India To Be Ready In 4 Months

written by saurabh

The first phase of one of the largest solar power parks in India is set to be operational in the four months.

Pavagada solar power park will see the 500 megawatts capacity operational by June 2017. The state government plans to increase the capacity of the solar power park to 2,700 megawatts by the end of next year.

The solar park is being developed as a joint venture between Karnataka Solar Power Development Corporation Limited and Solar Energy Corporation of India Limited. The location of the solar power park is apt given its extreme arid conditions.

NTPC Limited, on behalf of the joint venture, auctioned 500 megawatts capacity among six project developers. The highly competitive auction saw allocation of the projects at tariffs Rs 4.78/kWh to Rs 4.80/kWh. The power generated from these projects will be shared by the distribution utilities of Karnataka.

Tenders to set up additional capacity at the solar power park are expected to be floated soon. These tenders are expected to reap sharply lower tariff bids compared to those seen in the first phase. Land for the solar park has already been been acquired which means that project developers will not have to pay anything for land.

03/10/2017 0 comment

Renewable Energy

India’s Largest Power Producer, NTPC, Enters Wind Energy Market

written by saurabh

NTPC Limited, the largest power generation company in India, has finally entered the country’s largest renewable energy sector.

NTPC Limited recently announced that it will set up its first wind energy project after months of aggressive and continued push into the solar power market.

According to the company, a 50 MW wind energy project shall be set up in the western state of Gujarat. The project shall be executed by Inox Wind Energy Limited. The project is expected to require a total investment of Rs 323.35 crore.

So far, NTPC has been pushing for solar power projects and has perhaps the largest solar power capacity addition target in India. NTPC will serve as the cornerstone of India’s ultra mega solar power projects programme. India plans to add up to 40 gigawatts of solar power capacity through this programme up setting up solar power parks of capacity up to 4 gigawatts each.

Auctions for several such solar power parks has already begun and a number of developers have commissioned large-scale projects as well.

Being a government owned entity NTPC should have little to no problem in selling the power generated from the wind energy project. Several private companies that own wind energy projects have complained about the poor off-take of power by utilities due to higher tariffs of wind power.

12/19/2016 0 comment

Renewable Energy

India To Launch $2 Billion Renewable Energy Equity Fund

written by saurabh

The Indian government will soon launch an equity fund to push renewable energy investment.

According to media reports, the Indian government is planning to launch an equity fund worth $2 billion to boost renewable energy development. The initial funding of $1 billion will be available starting next financial year, April 2017.

The Clean Energy Equity Fund (CEEF) will see contribution from the central government as well as some state-owned companies. Around $600 million will be contributed from the National Investment and Infrastructure Fund, under the Ministry of Finance; the balance will be contributed by state-owned companies NTPC Limited, Rural Electrification Corporation and Indian Renewable Energy Development Agency (IREDA).

These companies, and several others, have already raised several million dollars through green bond issues which might be directed to the CEEF.

The government is expected to tap foreign investors to further increase the size of the fund. Pension and insurance funds will be targeted for this fund expansion.

The Indian government is looking to raise funds from as many sources as possible. It has tapped the green bonds market, international development banks and national banks and financial institutions. India has set a target to have installed renewable energy capacity of 175 GW, including 100 GW solar power and 60 GW wind energy capacity.

11/15/2016 0 comment

Renewable Energy

Storage-backed 50 MW Solar Capacity Planned For India’s Andaman & Nicobar Islands

written by saurabh

The Indian government is looking to boost solar power in the remotest parts of the country, and in this endeavour an agreement has been signed for installation of a number of solar power projects in the islands of Andaman and Nicobar.

India’s largest power producer, NTPC Limited, has signed agreements with the administration of Andaman & Nicobar Islands and the Ministry of New & Renewable Energy at the central government to set up solar power capacity of 50 MW across the islands.

The solar power projects will be set up at various locations across the capital Port Blair and will also be equipped with storage equipment. The solar power projects would prove a boon to the islands which are significantly dependent on fuel import from the mainland.

Setting up solar power projects at the islands is essential as they cannot be connected to the dedicated power transmission network being set for delivering power generated from large-scale renewable energy projects across the Indian states; the islands are thousands of kilometres away from mainland India.

The projects shall also be real test of India’s new energy storage program, which the government intends to integrate with its ambitious plan to set up ultra mega solar power projects of up to 4 GW capacity each.

10/24/2016 0 comment

Renewable Energy

India’s NTPC To Complete 1 GW Solar Power Park By March 2018

written by saurabh

India’s largest power generation company – government-owned NTPC – is on track to complete one of the largest solar power parks in the country.

NTPC Limited is working on 1 GW solar power park at Ananthapur, Andhra Pradesh in southern India. The company has already allocated and commissioned 250 MW at the solar power park and expected to commission the balance 750 MW by March 2018.

The 250 MW capacity is already operational and was commissioned earlier this year by Tata Power Solar (100 MW), Lanco Solar, BHEL and Sterling and Wilson (50 MW each).

The Anantapuram ultra mega solar power project is planned to have a total capacity of 1.5 GW spread across two sites within the Anantapurum district. The second phase of the solar park will have 750 MW capacity. Both the phases will be located at district Kunta. The balance 500 MW capacity shall come up at Galiveedu.

Apart from this solar power park, NTPC is working on several other similar projects in states across India, including Karnataka and Telangana where solar power parks of up to 5 GW capacity are under construction.

09/30/2016 0 comment

Renewable Energy

India Issues 200 MW Solar Power Storage Tender

written by saurabh

India has issued its second solar power storage tender as it looks to expand its capabilities to efficiently absorb the rapidly increasing solar power capacity in the existing grid.

The Solar Energy Corporation of India (SECI) issued tender to set up 200 MW solar power capacity along with storage facility. The power generation capacity shall come up in Karnataka’s Pavagada solar power park. Projects will be auctioned in the size of 50 MW each with each project having storage capacity of 2.5 MWh.

Pavagada solar power park is among around 25 solar power parks approved by the Ministry of New & Renewable Energy. The planned capacity of the solar power park is 5 GW which would make it among the largest power projects in India.

NTPC Limited has already auctioned 500 MW capacity for the solar park. The capacity was allocated to six developers who are free to choose Indian or imported solar power modules for their projects. Adani Power, Tata Power Renewable Energy and Fortum India secured 100 MW capacity each at tariff of Rs 4.79/kWh (US¢7.9/kWh).

More capacity is expected to be auctioned soon by NTPC Limited as well as SECI.

This new tender comes only days after SECI issued the first solar power storage tender of 100 MW capacity for the 1 GW Kadapa solar power park in Andhra Pradesh.

08/31/2016 0 comment

Renewable Energy

India To Begin Construction Of 5 GW Solar Power Park Soon

written by saurabh

Construction on one of India’s largest, if not the largest, solar power park is expected to being soon.

The Minister for Energy in the southern state of Karnataka recently told media outlets that construction on a proposed 5 GW solar power park will begin soon. The Pavagada solar power park is among the more than two dozen solar power parks with cumulative capacity of almost 20 GW approved by the Ministry of New & Renewable Energy.

The Pavagada solar power park is still in its very initial stages of development. While a total capacity of 5 GW has been proposed, plans for only 2 GW have been shared in the public so far. India’s largest power generation company NTPC Limited and Solar Energy Corporation of India (SECI) will jointly auction and allocate the 2 GW capacity in the project size of 50 MW each.

Five power distribution utilities in the southern state of Karnataka recently signed an agreement with the Solar Energy Corporation of India (SECI) to acquire 1 GW of solar power from a solar power park currently under development. The utilities will purchase electricity from SECI at Rs 4.50/kWh (US¢6.7/kWh) for a period of 25 years.

Recently, NTPC auctioned 500 MW capacity for the solar park. The capacity was allocated to six developers who are free to choose Indian or imported solar power modules for their projects. Adani Power, Tata Power Renewable Energy and Fortum India secured 100 MW capacity each at tariff of Rs 4.79/kWh (US¢7.9/kWh).

NTPC will also hold 100 MW auction wherein developers will be mandated to use only Indian-made solar PV modules. Apart from that NTPC has been designated to auction an additional 1 GW capacity. Power generated from this capacity will be bundled with power generated from NTPC’s own thermal power projects.

Solar Energy Corporation of India (SECI) will also auction 400 MW capacity for the solar power park. This capacity will be allocated under the Viability Gap Funding scheme wherein developers will bid for capital cost support needed and sell power at a fixed tariff of Rs Rs 4.43/kWh (US¢6.6/kWh).

08/28/2016 0 comment

Renewable Energy

Indian Project Developers Quote Lowest-ever Solar Bid Of US¢6.5/kWh

written by saurabh

Indian project developers have pushed solar power bids to record-lows in the latest solar power auction under the National Solar Mission.

An auction held by NTPC Limited for the implementation of 130 MW capacity in the western state of Rajasthan saw project developers bidding at Rs 4.35-4.36/kWh (US¢6.5/kWh). This the lowest-ever tariff bid by Indian companies and almost matches the lowest-ever tariff bid quoted in India.

Three companies, all controlled by Indian industrial conglomerates, secured the projects. Shapoorji Pallonji secured rights to develop 50 MW capacity at tariff of Rs 4.35/kWh. Mahindra Susten, part of the Mahindra & Mahindra Group, won a 60 MW project at Rs 4.35/kWh. A company part of the Adani Group secured 20 MW project at Rs 4.36/kWh.

The lowest-ever solar tariff bid seen in India till date stands at Rs 4.34/kWh (US¢6.5/kWh). The bid was placed by Indian arm of Finland-based Fortum Group. The company secured the 70 MW project as part of a 420 MW solar power park being developed by NTPC Limited in the western state of Rajasthan.

It is no coincidence that the lowest tariff by an Indian company has been received for a project located in Rajasthan. The state has ample solar radiation resource and cheap land which can be leased from the government for several years.

Another reason for the low bids is that the power shall be procured by NTPC Limited, a government-owned entity. Being an NTPC project has its benefits as financial institutions and banks tend to favour the developer in the lending process.

07/20/2016 0 comment

Renewable Energy

India’s NTPC Plans Additional 5 GW Solar Power Auction

written by saurabh

India’s largest power generation company is planning to significantly boost its solar power footprint.

According to media reports, NTPC Limited plans to auction an additional 5 GW solar power capacity over the next three years. The company has been the leading entity in auctioning and allocation of solar power projects ever since the Indian government increased solar power target from 22 GW to 100 GW by March 2022.

NTPC has auctioned projects to developers to set up its own capacity as well as on behalf of the central and state governments.

The company plans to boost its power generation portfolio by revisiting its renewable energy business plan. As per the initial plan the company pledged to add 1 GW of wind projects and 10 GW of solar projects to its current renewable energy portfolio.

The company recently revealed plans to of a new long-term policy that will see a significantly increased share of renewable energy in the generation mix. The new plan will be in line with the country’s aim of generating 175 GW renewable energy by 2022. The company envisaged 128 GW of power generation by 2032 out of which 28% is expected to come from renewable energy. The company’s current power generation capacity stands at 47 GW of which renewable energy constitutes 11%.

NTPC currently has 24 GW of projects under various stages of development. Recently, NTPC has invited bids for 625 MW of solar PV at the Ananthapuramu Ultra Mega Solar Park in the state of Andhra Pradesh. The solar power park will eventually have an installed base of 1.5 GW and 200 MW is already operational.

NTPC Limited has been chosen to set up a number of solar power parks. The company has a pipeline of 3.5 GW of solar power capacity. It will set up UMPPs in Telangana, Uttar Pradesh, Odisha and Madhya Pradesh.

07/17/2016 0 comment

Renewable Energy

India’s NTPC Limited Approves 510 MW Solar Power Investment

written by saurabh

India’s largest power generation company has approved funding for two large-scale solar power projects demonstrating its intention to push forward with renewable energy development.

The board of NTPC Limited recently approved investment of Rs 3100 crore ($467 million) for the development of 260 MW solar power park in Rajasthan and 250 MW solar power park in Madhya Pradesh.

The company has already approved and started work on similar solar power parks in other states. The most recent update came from another solar power in the state of Rajasthan. NTPC allocated 420 MW capacity in units of 70 MW each. Fortum placed a bid of Rs 4.34/kWh (US¢6.5/kWh) which remains the lowest-ever tariff in India for solar power projects.

Solar power parks being developed by NTPC also includes the 500 MW project allocated to SunEdison in Andhra Pradesh. The project’s future is now at stake with the US-based developer facing financial troubles.

NTPC Limited plans to invest $10 billion to set up 10 GW of renewable energy capacity over the next 5 years. A large part of this capacity is expected in the form of solar power projects. The company has been asked by several state governments to set up large-scale solar parks and is reported to have 3 GW solar power capacity in its pipeline.

04/17/2016 0 comment